Posted On: 05/19/2014 12:41:29 PM
Post# of 43065
Re: xxxxcslewis #8171
I agree and there are several interesting changes, including the name change, new CUSIP number, the cancellation of the letter agreement (which means none of the whales can capture Bordynuik's preferred voting rights and the company), and also the return to the company treasury and retirement of those preferred shares and super voting rights. IMO this means that anyone who wants to gain control of JBI must now buy enough common shares to reach 51%, as the super voting rights of the preferred shares will soon disappear.
The increase in authorized from 150M to 250M does not automatically mean dilution. Only if they go crazy and start issuing shares for financing will this become a problem. Look at the company history-- Bordynuik has been quite frugal with outstanding shares, so I see this more as a hedge, in case those shares are needed down the road.
Much more interesting to me is the TIMING of all this, and whether they are about to seat a BOD and/or sell machines?
The increase in authorized from 150M to 250M does not automatically mean dilution. Only if they go crazy and start issuing shares for financing will this become a problem. Look at the company history-- Bordynuik has been quite frugal with outstanding shares, so I see this more as a hedge, in case those shares are needed down the road.
Much more interesting to me is the TIMING of all this, and whether they are about to seat a BOD and/or sell machines?
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